International Battery Metals Ltd.'s Business Segments

The company is a pre-revenue, development-stage entity focused on developing and commercializing the MDLE Plant technology, which extracts and processes lithium chloride from brine resources to produce lithium carbonate. Its primary asset is the MDLE Plant technology and the Initial MDLE Plant planned for deployment. The company aims to demonstrate the commercial viability of this technology, develop next-generation MDLE Plant technology, and customize the Initial MDLE Plant to accommodate specific customer requirements based on brine quality and lithium content. The business model relies on raising sufficient capital, retaining key management personnel, managing lithium price volatility, and adapting to regulatory changes. The company incurs significant expenses in sales, marketing, research, and development to identify customers and validate its technology. Capital expenditures for customizing the Initial MDLE Plant are estimated between $2.0 million and $12.0 million. Historically, the company has relied on equity financing and has not generated meaningful revenue or profitability, with substantial losses expected to continue. Its success depends on securing commercially reasonable customer agreements and competing effectively in an industry with emerging direct lithium extraction technologies.

The Company operates as a single reportable segment, consistent with how the Chief Operating Decision Maker (CODM), the CEO, manages the business, allocates resources, and evaluates performance. To date, the Company's activities have been limited to research and development and pre-commercialization, with no revenue generated from product sales or services. The CODM regularly reviews significant expense categories, including general and administrative expenses, stock-based compensation, and other operating expenses, as part of the consolidated financial results. No additional measures of segment profit or loss, or assets, are provided. All operations and assets are located in the United States, with no revenue or long-lived assets outside the United States as of March 31, 2026.